The testable implications of the Permanent Income Hypothesis are derived from the maximization of the present discounted value of expected lifetime utility from consumption. The consumer choice problem is a dynamic decision problem under uncertainty. The first order condition fr…
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The decision of whether or not to migrate (or whether or not to return) has wide-ranging consequences on the lives of individuals and their families. However, research - especially empirical - that explores the extent to which one's economic conditions affect their migration dec…